The government of Pakistan has announced a fresh increase in petroleum prices, according to an official notification.
Under the revised rates, petrol has been increased by Rs14.92 per litre, taking the new price to Rs414.78 per litre.
Meanwhile, the price of high-speed diesel has risen by Rs15 per litre, with the new rate fixed at Rs414.58 per litre.
The updated prices have been issued through an official notification and are expected to come into effect immediately.
The latest hike is likely to place additional financial pressure on consumers already facing rising transportation and living costs across the country.
Brent crude futures jumped as much as 3% on Friday, a day after the U.S. and Iran traded air strikes, with traders fretting over the future of the cease-fire and shipping in the Strait of Hormuz.
Brent crude futures was at $101.47 a barrel, up $1.41 or 1.41% by 10:51 CDT (1551 GMT), after rising as much as 3% earlier in the session. U.S. West Texas Intermediate (WTI) futures was at $95.71 a barrel, up 90 cents, or 0.95%.
